Tag Archives: gulfnav

GULFNAV 2012

Gulf Navigation Holding (GULFNAV), discussed elsewhere on this blog several times in the past…

2012 so far:

0.18 — ALL TIME LOW hit on 17JAN2012;

0.185 — ALL TIME LOW (closing basis) hit same day

0.429 — YEAR HIGH on 29FEB2012

0.417 — YEAR HIGH (closing basis) on 04MAR2012

GULFNAV rallied 138% (125% on a daily CLOSING basis) from its historic ALL TIME LOW in very short time (about a month).

In retrospect, that vicious rally looks like a typical bear market rally, as the stock has proven weak throughout the year.

Why is it weak?

The stock has gone beyond the lower of the widely used FIBO levels (68.2%) in retracing the rally earlier in the year.

0.18 – 0.185 is the obvious level to watch now.

Hope lies ahead, on daily closes above 0.25, and especially a WEEKLY CLOSE above 0.26

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GULFNAV 2010

Gulf Navigation, GULFNAV, is a stock people think is very undervalued. That belief stems mainly from the fact that the stock’s price is far away from the IPO price of 1 dirham. As it languishes below ONE DIRHAM a share, GULFNAV has been fighting to close above 0.57 on a weekly basis.

A weekly close above 0.70 may negate the relentless downtrend since mid October.

This is a stock with bearish momentum that could be cancelled by any showing above 0.64

We may yet see 0.35 or 0.30 when the company stock price may look attractive enough for it to begin possibly buying back shares.

The company declined 11 per cent in the last 12 months in Dubai trading, compared with an 8.4 per cent drop for Frontline Limited, the world‘s largest operator of super tankers. Gulf Navigation, which held an initial share sale in 2006, may buy back as much as 10 per cent of its stock, Wistoft said.

A Few Good UAE Stocks (that WERE)

TOO FAST TOO SOON

the major names from Abu Dhabi and Dubai that have now CORRECTED brutally

ARTC — Arabtec Holding

2.10 to 19.90 (recorded low on 22MAY2006 to high on 27JUL2008)

GAINED 847.62% in just over 26 months, roughly equivalent to OVER 391% per annum

The 2007 low was 3.70 on 03APR2007

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ALDAR — Al Dar Properties

3.42 to 13.65 (recorded low on 25DEC2006 to high on 16JUN2008)

GAINED 299.12% in about 17.5 months, roughly equivalent to 205% per annum

The 2007 low was 3.63 on 15JAN2007. The 2006 low was 3.42 on 25DEC2006.

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GULFNAV — Gulf Navigation Holding

0.91 to 1.93 (recorded low on 02APR2007 to high on 02JUN2008)

GAINED 112.09% in 14 months, roughly equivalent to 96% per annum

The 2007 low was 0.91 on 02APR2007

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SOROUH — Sorouh Real Estate

1.87 to 11.05 (recorded low on 16JAN2007 to high on 05MAR2008)

GAINED 490.91% in just over 13.5 months, roughly equivalent to 436% per annum

The 2007 low was 1.87 on 16JAN2007

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TAMWEEL

2.60 to 8.72 (recorded low on 03APR2007 to high on 04JUN2008)

GAINED 235.38% in 14 months, roughly equivalent to 202% per annum

The 2007 low was 2.60 on 03APR2007

AMLAK, ARMX, ARTC, GULFNAV, TABREED, TAMWEEL

After today’s dire Dubai general market performance, the following attraction points seem more realistic for the following stocks:

AMLAK — headed DOWN towards 3.18 in the next few months

ARABTECH — The stock has DIED. It’s headed DOWN towards 13.42, where it would be 32.5% off its 2008 high. Below, AED 11.00 and 9.30 are very possible (Good long-term BUY levels). Any buy long-term speculation on this stock above 13.42 is CRAZY.

ARAMEX — Watch 2.19 it’s critical support here! Headed DOWN towards 1.68 if it closes below 2.19 a few times. Today closed @ 2.20, while low was 2.17 so the stock’s still supported.

GULF NAVIGATION — Watch 1.54 it’s critical support here! Headed DOWN towards 1.42 and 1.30, even 1.12 – 1.17 for a GREAT BUY LEVEL if we see a few closes below support. Today closed @ 1.58 with a low of 1.56 STILL SAFE.

TABREED — Watch 2.08 it’s critical support here! Closed barely above @ 2.07 today with a low of 2.06 so this stock is still alive. Should support break we wait for 1.63 to BUY.

TAMWEEL — 6.66 , a MAJOR FIBO support level, has FAILED today (CLOSE 6.50, LOW 6.41) as expected.

4.75 is our long-term BUY level.